Fedex Wave Analysis – 14 February, 2020

• Fedex broke multi-month resistance trendline
• Likely to rise to 163.90

Fedex recently broke through the multi-month resistance trendline which has been reversing the price from April of 2019 – as can be seen below.

The breakout of this resistance trendline continues the active short-term impulse wave C of the ABC correction (B) from last October.

Fedex is likely to rise further in the active waves C and (B) toward the next resistance level 163.90 (top of the previous wave (b)) – the breakout of which can lead to further gains toward 167.60 (top of the earlier correction A).